1. British Gas owner Centrica profits hit by lower commodity prices
But retail profit rose to £800 million, driven by a return to profitability in British Gas Services & Solutions and cost recoveries in British Gas Energy.
2. UK slips into technical recession
The economy witnessed broad-based decline in output in the three months to December, with services falling -0.2%, industrial production -1% and construction -1.3%.
3. FTSE 100 rallies mid-afternoon despite recession
Meanwhile in the US, the Nasdaq Composite slipped on Thursday’s opening bell, while the S&P 500 and Dow Jones enjoyed gains following the release of a heap of economic data.
4. Close Bros scraps dividend due to FCA motor finance probe
In a trading statement, the independent bank said: “While there is no certainty regarding any potential financial impact as a result of the FCA's review, the board recognises the need to plan for a range of possible outcomes”.
5. Temenos scalped by short-seller Hindenburg over accounts
In a detailed report published on Thursday, New York-based Hindenburg laid down a litany of accusations against Geneva-listed Temenos, ranging from financial mishandling, poor product quality and insider selling.